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US SEC targets a $91m Ponzi scheme operated by 3 Texans, defrauding 200+ investors with false promises of bond trading profits and misappropriated funds

by Jyotsna Bucktowar | Apr 29, 2025

Between May 2021 and February 2024, the trio allegedly ran the scheme through a trust controlled by Alexander, Vanguard Holdings Group Irrevocable Trust (VHG), promising investors guaranteed returns of 3% to 6% per month from international bond trading activities....

US SEC charges PGI Global founder in a US$198m crypto and forex Ponzi scheme, exposing misappropriated funds and triggering parallel criminal prosecution

by Jyotsna Bucktowar | Apr 22, 2025

According to the SEC’s complaint, Palafox used Ponzi tactics to deceive investors, falsely promising high returns from his supposed trading platform, which he claimed utilized sophisticated crypto and forex strategies. Instead, Palafox misappropriated over $57...

SEC charges Deutsche Bank subsidiary to pay US$4m for failing to file certain suspicious activity reports on time

by Jyotsna Bucktowar | Dec 20, 2024

Deutsche Bank Securities has been fined US $4 million for failing to file suspicious activity reports on time between April 2019 and March 2024 despite receiving requests linked to law enforcement investigations. The SEC found the company took more than two years in...

SEC charges a “magic mushroom” company and two individuals in a multimillion-dollar pump-and-dump scheme

by Jyotsna Bucktowar | Oct 16, 2024

The SEC alleges took control of Minerco a dormant penny stock and appointed its head to promote the company as a pioneer in psilocybin mushroom research. From 2020 to 2021 issued false statements, claiming Minerco had partnerships and valuations that didn’t exist, and...

US SEC announces an award of more than $37 million to a whistleblower whose information and assistance led to a successful SEC enforcement action

by Jyotsna Bucktowar | Jul 26, 2024

The whistleblower persisted in reporting the misconduct internally, which led the employer to conduct its own investigation and eventually report the results to the Commission. This self-report caused the Commission to open an investigation. Further, without the...
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